Egypt happens to have 4,767 strong tanks and 1,100 airplanes in their country alone which gives them a total maritime power of 237. Sadly, this does not reflect the state of Africa’s economy. The country is Africa’s largest crude oil exporter, recording production about 1,6 million barrels a day in December of 2019. As of the end of 2019, Nigeria holds the position of the richest country in Africa, with a GDP of almost $600B USD. It also happens to be one of the fastest-growing economies, not just in Africa but in the world. The main exports of Algeria are petroleum and natural gas, and the main export partners to Algeria are Italy, Spain, and France. Thus the GDP per capita is good over 5,900 U.S. dollars. The richest country in the world by GDP per capita is Luxembourg. Notably, the countries on this list of richest African countries are ranked based on GDP Per Capita. Until 1960, it was considered a colony of France. This is done by taking the value of all final goods and services produced within a country and dividing by the country’s total population. Namibia – $11,528. It ranks eighth on our list with a GDP Per Capita of $12,994. SA has a gross domestic product of $346, 000,000,000 ($346 billion) which makes it the second-largest economy in Africa. As we speak, some African countries are among the poorest while others have the fastest growing economies in the world. Before the Arab Spring in 2011, Tunisia’s economy was seen as a success story in Africa, but since then it has had slower growth and higher unemployment rate. Top 5 Richest Kings in Africa 2020. The same technique is also used to rank the richest countries in the world. Top 10 Richest Countries in Africa 2020 Forbes. The pillars for Namibia’s economy are tourism, manufacturing, agriculture and mining. How often do you ask Which country is the poorest in Africa? The second richest country in Africa is Gabon. Richest city in Africa 2020. For proof, these are the 10 richest countries in Africa listed by World Atlas, which in turn, is using data on GDP per capita from the International Monetary Fund for 2017: 10. However, the disparity in income distribution is likely to deter the wealth distribution among the people of this region. These updated numbers come from the latest purchasing power parity statistics from the International Monetary Fund (IMF). Richest country in east africa 2020. The economy of Algeria is majorly dependent on the energy industry which produces massive amounts of fossil fuels. The combination of a low population (1.8 million people), an impressive supply of high-quality wood, oil, uranium and manganese ore made Gabon one of the most prosperous states on the continent. The country is home to 33,300 dollar millionaires – … Like many other very wealthy nations, France’s economy is complex and diverse, exporting over $500 billion worth of goods and services annually. Were you surprised by any of the richest countries in Africa? In fact, the country is the leading in Africa in production of palm oil. Which Country Is The Richest In Africa 2020 (Forbes)? At the same time, the energy industry contributes more than 95% of Algeria’s export revenue. Much of Tunisia’s economy has longtime been dependent on industries such as oil, tourism, and automobile parts. Find out which cities have the wealthiest people in the entire continent as of 2020. However, income inequality is also rampant. The latest Corruption Perceptions Index ranks countries on a rating scale of 0 (highly corrupt) to 100 (Highly clean) in the world. Nevertheless, the people of this region have continued to be exploited for decades and poverty has been a major calamity. It’s also the only African nation that is a member of the G20. Its residents also earn enough money through industrial fishing and the processing of natural resources such as coconut also play a part. King Mohammed VI (Net Worth $2.5 Billion) – Richest Presidents in Africa 2020. Nigeria also has a good number of people who have made appearances on Forbes Magazine as the richest blacks in the world. In addition, it makes up 30% and 60% of the country’s GDP and budget earnings respectively. In addition to its low population, Botswana’s diamond-rich land is considered a mid-sized territory. It is considered to be a middle-income country. Seychelles drives its economy through tourism and has managed to maintain considerable growth within the last decade. The country is rich in fossil fuels and exports energy to other countries, thus it can boast an awesome GDP Per Capita of $15,000. In 2020, Nigeria's Aliko Dangote tops the list for the ninth consecutive year despite a slight drop in his net worth. As of 2020, the country’s GDP stands at $400. This country has is the site of one of the largest underground mines in the world. Botswana has a GDP Per Capita of $18, 146. Africa's Richest 2020: Steady State With Some Volatility On The Margins Forbes Africa | February 2020 Like elsewhere in the world, fortunes in Africa can be volatile, thanks to changes like a new currency. Nigeria: 1,900,000 barrels/day; ... You may agree or disagree with this statement, but one thing no one can deny, is that this country is the richest oil country in the continent. From there, you can determine which states are wealthiest and then list the countries in descending order, from richest to poorest. The Gabonese government has been accused of overspending. At the first position is Seychelles which is an archipelago in the Indian Ocean with a population of 99,847 citizens. According to the World Bank statistics of 2020, the poverty rate in the country is 44.1%. Many goods that are consumed within the country are imported, which contributes to their high cost. Gabon has one of the highest GDP per capita in Africa, and this is mostly due to the oil sector, which accounts for 50% of the GDP. Some 1.2 million people live in this relatively small nation on the west coast of Central Africa. Namibia is the 10th richest country by per capita income in Africa. The Central African Republic, for example, is the second-poorest country in Africa and has a population of 4.7 million people and a life expectancy of 52.9 years. In this article, we shall list the top 10 richest countries in Africa from 2020 to 2021. Notably, the countries on this list of richest African countries are ranked based on GDP Per Capita. This is the 3rd on this list of the richest countries in Africa 2020 based on GDP Per Capita. Richest Country In Africa 2020 Forbes: Top 10 African Countries (Per Capita). The richest man in Africa is Sir Aliko Dangote. Johannesburg, South Africa's biggest city, tops the list as the wealthiest city in Africa. GDP per capita: 31.81 thous… While Somalia, South Sudan, Sudan, Guinea Bissau and Equatorial Guinea are the most corrupt nations in Africa and the world. The African economy is expected to reach a GDP of $ 29 trillion by 2050. The country’s per capita GDP of $1,813 is 32% lower than the average of $2,673 of the sub-Saharan African countries. We present you another important list and this one features the top 10 richest country in Africa 2020, mostly based on the GDP per capita. However, over recent decades, oil production in Gabon has been declining, with some experts predicting that it is soon to run out. 1. The continent boasts a wide range of natural resources. Photo: Prin Adulyatham / Shutterstock.com. The combination of a low population (1.8 million people), an impressive supply of high-quality wood, oil, uranium and manganese ore made Gabon one of the most prosperous states on the continent. Want to know which is the richest African country? July 18, 2020 July 18, 2020 Nelson ontita 0 . #5. Nigerian Flag. The Human Development Index of Mauritius is the highest in Africa and it’s a thriving nation where manufacturing, financial services, and communications technology are some of the additional contributors to the GDP. Seychelles is the richest country in Africa by GDP per capita, and Nigeria is the wealthiest country in Africa by total GDP. Global statistics about mineral production reveal that Namibia constitutes the world’s biggest producers of uranium. Agriculture, human resources and industry are the major pillars of the African economy. With the GDP per capita of $14,717.3, Algeria ranks the sixth richest country in Africa 2020. As of the end of 2019, Nigeria holds the position of the richest country in Africa, with a GDP of almost $600B USD. The population measures at around 1,222,245. Briefly.co.za made a list of the 10 African billionaires and their net worth. Israel is a highly industrialized country, says the Israel Ministry of Foreign Affairs. Kenya is also the economic, financial, and transport hub of East Africa.

HDI is set on a scale that ranges from 0 to 1, with four different classifications of low human developed (0-.55), medium human development (.55-.70), high human development (.70-80), and very high human development (.80-1.0).To determine the wealthiest African countries, information from the 2017 International Monetary Fund data was used to determine each country’s GDP. The French created nearly $40,000 in economic output per person in 2017. 10. Botswana has a population of 2.3 million people and is located in southern Africa with borders to South Africa, Namibia, Zimbabwe, Zambia, and Angola. It can be nominal GDP, PPP GDP, Per Capita GDP and many other such figures. The country is home to a highly sophisticated banking system and a low level of foreign debt. The most common statistics for measurement are those relating to Gross Domestic Product GDP. Namibia is found in Southern Africa and it has a GDP per capita of $11,528, it is the tenth richest country in Africa. Spread the love. The main focus of the economy in Seychelles is tourism and fishing. The economy of Egypt depends on agriculture, tourism, natural gas, and petroleum imports, as well as revenues from the Suez Canal. The country has a GDP of about $11,528. Patrice Motsepe was estimated to be worth $2.8 billion as of January 2021, and was ranked as the youngest billionaire in South Africa and the tenth richest in Africa on the Forbes Rich List for 2020. Main sectors that contribute to the economy include agriculture,fishing, manufacturing, tourism and financial services. These reveal a wealth of … Most individuals are curious to know which is the richest country in Africa in 2021, and what are the 10 richest countries in Africa. Related: Black Billionaires: Top 15 Richest Black People in the World (2021) The country is not too big, but its nation is great at producing goods, making sugar, textile and other popular products that positively influence the local economy. Using the only GDP thus means that countries with larger populations usually have a higher GDP. 1. Africa is known for being home to some of the poorest countries in the world, and there are still several countries which suffer from civil wars and corruption. Not only is Ethiopia one of Africa’s wealthiest countries, it's also steeped in history. Democratic Republic of Congo: 317,000 barrels/day The Democratic Republic of Congo is also among the African countries which are rich in oil. The coastal waters of the nation are extremely rich in fish, even though the foreigners often exploit these waters and it threatens the rise of income for Mauritania. The majority of the population engages in subsistence agriculture but there is a growing class of skilled workers and tradesmen that have come al… This is a List Containing The Richest Countries in Africa 2020. With a GDP just under $450 billion, Nigeria holds the position of the richest country in Africa. In this article, we shall enlighten you of the top 10 Forbes richest countries in Africa for today, 2020. The island nation has become quite famous as a honeymoon destination, and there are several luxurious resorts attracting tourists from all over the world. However, the GDP per capita is expected to rise to $425 by 2020. And we also have some people who claim the country also exports some of its oil. Namibia also has large markets in metal mining, manufacturing, and tourism. Here are the Top 10 Most Developed Nations in Africa 2020 . My name is Alex, and I’m a Professional Travel Blogger and Photographer from Sweden. Kenya is also the economic, financial, and transport hub of East Africa… Johannesburg. Its 160-million people have helped the country propel itself to be the largest consumer retailer in Africa, along with its petroleum exports. However, cost of living in Namibia remains relatively high. Currently, the richest country in Africa is Equatorial Guinea with a per capita income of $34,865.Seychelles is second with a per capita income of $28,1172.. 10 Richest Countries In Africa (By GDP Per Capita) A word of note: Reports of GDP per capita do … However, this place in Central Africa is currently the 3rd wealthiest country in Africa 2020. Richest African Countries 2020: Top 10 Richest Countries in Africa (GDP Per Capita). South Africa is the second richest country in Africa and one of the fastest developing nations in the world. Its 160-million people have helped the country propel itself to be the largest consumer retailer in Africa, along with its petroleum exports. The country’s exports in 2… This list reveals how wealthy the top African cities are and the sectors that significantly influence their economy. Seychelles is characterized as a highly developed country. South Africa is an influential African country and economic facts show that it is the second largest African economy –precisely in terms of GDP. The revolt has favoured Tunisia and categorized it among the efficient African economies. Most of the revenue of the Libyan economy comes from the petroleum sector, which accounts for 95% of all exports and 60% of the total GDP. The richest man in Africa is Aliko Dangote, who has a net worth of $14.1 billion. We provide you with the latest breaking news and videos straight from the entertainment industry. Find out which cities have the wealthiest people in the entire continent as of 2020. The country has a population of over 40 million. Forbes analyze and release annually list of The Richest Person In Africa 2020, Africa’s billionaires are as a group more productive than a year ago. Africa is one of the richest continents in the world in terms of land-soil, favorable weather, and many more, but has rich as the continent is, its totally different story to most countries as Africa serve has to site for some of the poorest countries in the world. In the continent, Mauritius tops the list of the country with the highest per capita wealth, which currently stands at $32,700. Also, in terms of purchasing power parity, it is the world’s fifth largest economy. France, China, and the United States are some of the country’s main export partners. The United States, China, and South Africa are some of Gabon’s main export partners. Seychelles. The following is a description of the ten richest nations in Africa and the nature of their economies. Manganese and timber processing are some of the other main contributors. South Africa is the second richest country in Africa 2020. but what is South Africa’s GDP? Here is the definitive list of the top Botswana is typically considered one of the safest countries in Africa, and it’s also one of the fastest-growing economies in the world. Kenya is by far the richest country in East Africa. This is a list of richest countries in Africa as of 2020 by GDP (PPP) per capita according to the latest research by the International Monetary Fund (IMF). The local economy rebounded the year after but was later crashed again due to the second Libyan Civil War. The economy has seen growth for several decades, and there are great possibilities for boosting the Algerian economy further. Mauritius is another wealthy island nation in Africa, and just like Seychelles, the majority of the GDP comes from tourism. Furthermore, its the richest country in Africa per capita gdp in 2020. Namibia sits in Southern Africa. Seychelles is an archipelago in the Indian Ocean which is home to some 100 000 people. Although agriculture used to play an important role in the country’s economy, its importance has reduced. Besides, the country’s low unemployment rate of just 1% indicates a favourable standard of living. It is endowed with lots of natural resources including gold, diamond, platinum to name a few. Altogether, the continent’s 20 billionaires are worth a combined $73.4 billion, up from $68.7 billion a year ago. The GDP of Mauritania is estimated to be $… The African continent boasts a wide range of natural resources. The country is sparsely populated, with a population of around 2 million. Tourism remains an important part of the local economy as well. Tourists are drawn to Mauritius for its pleasant climate, beautiful beaches, and warm ocean water. It is partly this low population that helps the GDP to remain relatively high. READ ALSO: Africa's richest: 10 African billionaires and their net worth. Equatorial Guinea Meanwhile, the country enjoys favourable economic standards under the influence of low population and vast deposit of oil. The African continent is one of the richest areas on the planet when it comes to natural resources, so there is huge potential for many African countries if they can remain stable and stop corruption. The value given is displayed in international dollars, which is a hypothetical currency that follows the same value as USD. Minerals account for the majority of GDP, where Diamond mining is most prominent. Until 1960, it was considered a colony of France. It has a population of around 2.1 million and a land area of around 224,610 square mile. Altogether, the continent’s 20 billionaires are worth a combined $73.4 billion, up from $68.7 billion a year ago. Seychelles is still the richest country in Africa 2020, with a per capita income of $34,865 using Gross Domestic Product (GDP) per capita based on purchasing power parity (PPP). 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